Alset CEO Buys 27,413 Shares

In recent developments, Chan Heng Fai Ambrose, the CEO of Alset Inc. (NASDAQ: AEI), has notably expanded his holdings in the company. Through a pair of transactions, he bolstered his stake by purchasing a total of 27,413 shares, with a combined investment of $25,871.

The initial transaction took place on August 16, 2024, where Mr. Chan acquired 7,413 shares at an average price of $0.90 each. The purchases were made in multiple trades, with prices ranging from $0.86 to $0.94. Following this, on August 19, he further increased his position by buying 20,000 more shares at an average price of $0.96, with individual trade prices fluctuating between $0.94 and $0.97.

As a result of these acquisitions, Mr. Chan now directly holds 5,872,588 shares of Alset Inc. Additionally, he controls another 319,000 shares indirectly through HFE Holdings Limited, where he exercises sole voting and investment authority. Collectively, his total beneficial ownership amounts to 6,191,588 shares of the company’s common stock.

Alset Inc., primarily engaged in the real estate industry, is navigating through a complex market environment. With a market capitalization of $8.81 million, the company’s Price-to-Book ratio is a low 0.11.

While the company’s valuation multiples, including EBIT and EBITDA, are low and may appeal to value investors, there are significant concerns. Alset Inc. has been burning cash at a rapid pace, with revenue plummeting by 57.47% over the last twelve months as of Q2 2024. Moreover, the stock has experienced considerable price volatility and has struggled with profitability over the past year.

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